Khazbi Budunov
@foscaecon.bsky.social
š¤ 127
š„ 188
š 107
Macroeconomist, MMTer
https://t.me/politeconomics
Argentinaās sovereign bonds surged after Mileiās party won the midterm elections. Itās amusing how persistent the market narrative remains that harsh fiscal consolidation can somehow put the economy back on a growth path.
17 days ago
0
0
0
reposted by
Khazbi Budunov
Relearning Economics
5 months ago
"In a sense the budget deficit can be considered as an artificial export surplus." -MichaÅ Kalecki
0
1
1
reposted by
Khazbi Budunov
Relearning Economics
6 months ago
āUncle Samās red ink is our black ink! His deficit is our financial surplus. Just follow the money: $100 goes into our bucket; $90 goes back out to pay taxes; $10 is left in our bucket.ā -Stephanie Kelton
0
3
2
reposted by
Khazbi Budunov
Nathan Tankus
6 months ago
Probably the worst political/analytical instinct of progressives and some leftists is the belief that the solution to our political economy problems are new indices based on lower quality and lower frequency economic data without much methodological justification
12
101
17
What we should truly be concerned about is deflation in China.
6 months ago
0
1
0
Lenny Belardo must become the new Pope.
6 months ago
0
0
0
Doctor, whatās the diagnosis here?
6 months ago
0
1
0
Viva la Resistenza! Viva l'Italia antifascista! Buon 25 aprile a tutti! š®š¹
7 months ago
0
2
0
reposted by
Khazbi Budunov
Brian Romanchuk
7 months ago
Not as effective as Trump providing a soundbite for the news, but the Tories are probably just getting the rye out for their lunch and muttering to themselves.
add a skeleton here at some point
0
3
1
reposted by
Khazbi Budunov
Brian Romanchuk
7 months ago
The problem with authoritarianism is that the authoritarians are dumber than a sack of bricks. The survival of American capitalism now relies on the nincompoop who started this mess finding a way out of it.
add a skeleton here at some point
0
6
3
reposted by
Khazbi Budunov
Adam Tooze
7 months ago
US consumers are coming under increasing pressure.
3
54
23
The first economic crisis I remember from my childhood was the Russian crash of 1998. Food prices soared by 100ā200%. We couldnāt afford even the cheapest jar of coffee. I think many Russians still canāt shake off memories like thatā¦
7 months ago
0
1
1
reposted by
Khazbi Budunov
Brian Romanchuk
7 months ago
Latest article - quick comment on the situation in the Treasury market.
open.substack.com/pub/bondecon...
loading . . .
Whither Treasury Yields?
Since I am allegedly writing about the intersection of the bond market and economics, I need to periodically check in with what is happening in the bond market itself.
https://open.substack.com/pub/bondeconomics/p/whither-treasury-yields?r=nmvfm&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
1
6
2
reposted by
Khazbi Budunov
Adam Tooze
7 months ago
Tinās surging relevance.
2
11
6
reposted by
Khazbi Budunov
Brian Romanchuk
7 months ago
Happy Easter to the haters and the losers.
add a skeleton here at some point
0
6
1
reposted by
Khazbi Budunov
Adam Tooze
7 months ago
Learn more about Ferdinand Mount on the Siege of Malta in todayās Chartbook Top Link. Visit the link in the comment to read.
1
13
3
reposted by
Khazbi Budunov
Rohan Grey
7 months ago
With respect to my liberal finance law friends, if you think defending fed independence at this point is a winning hill for anti trump politics to die on I really hope you have a sense of what disproving that prior looks like and what you'd have to reassess if it ends up being
3
22
5
reposted by
Khazbi Budunov
Adam Tooze
7 months ago
Learn more about the comparison of income inequality in the Roman and Chinese Han empires in Chartbook Top Link. Visit the link in the comment!
1
37
8
The Russian economy is in superposition: GDP is set to grow 3.1% in 2025, but signs of stagnation are mounting ā credit and investment are slowing, retail is weakening. Growth is propped up by government spending, construction, and a tight labor market.
7 months ago
0
0
0
š©
7 months ago
0
0
0
Trump made mainstream economists remember macroeconomic identities.
7 months ago
0
0
0
š
7 months ago
0
0
0
- "Sir, trade balance over imports does not make any sense" - "Let's throw in some Greek letters like nerdy scientists would do!" - "Ok, that'll do"
7 months ago
0
1
0
ššš
7 months ago
0
0
0
reposted by
Khazbi Budunov
Brian Romanchuk
8 months ago
Nothing would own me, a Liberal-adjacent Canadian, more than if Elon Musk devoted himself full time to supporting the Federal Conservatives in the upcoming election, particularly in eastern Canada. (OK, I want to see how close Pierre can get to matching poor old Kim Campbellās election result.)
add a skeleton here at some point
0
3
2
Russian data debunk the money multiplier: from 2005 to 2019, banks created money not from reserves but through lending. As in the U.S., credit demand is the main constraint. The credit theory of money wins.
academic.oup.com/cje/article-...
8 months ago
0
1
0
Declassified documents suggest that if Trump had been president at the time, Kennedy wouldnāt have been killed!
8 months ago
0
0
0
ā¤ļø
8 months ago
0
0
0
reposted by
Khazbi Budunov
Richard Banner
8 months ago
Seems Musk has discovered MMT....
stephaniekelton.substack.com/p/elon-musk-...
... wish Reeves would do the same.
loading . . .
Elon Musk Discovers the "Magic" of Modern Money
Yesterday, U.S.
https://stephaniekelton.substack.com/p/elon-musk-discovers-the-magic-of?utm_campaign=email-half-post&r=10c6q0&utm_source=substack&utm_medium=email
0
4
2
At the U.S. Embassy in Moscow, the ZVO signs were replaced with the hashtag
#WeAreTogether
immediately after the negotiations between Putin and Trump.
8 months ago
0
0
0
How do we resist the eternal temptation to draw parallels with 1914, 1929, 1939, 1991, 2008?.. Simply acknowledge: itās 2025.
8 months ago
0
0
0
Weāve lived to see the day: Elon Musk is explaining the basics of MMT to Ted Cruz.
8 months ago
0
1
0
My life ā a crisis in six acts: 1. USSR collapse ā I donāt remember it, but it shaped everything. 2. 1998 default ā The first crisis I recall. 3. 2008 recession ā Didnāt hit me, but reshaped the world.
8 months ago
1
0
0
š Whatās happening with the Russian economy in early 2025? According to the latest forecast by INP RAS (ŠŠŠ Š ŠŠ), Russiaās GDP growth in Q1 is projected at +3.1% year-on-year, though the growth rate is already showing signs of slowing down.
8 months ago
1
0
0
āI want to put an end to all wars in the world,ā Trump declared. āHow, Mr. President?ā āIāll impose 200% tariffs and the toughest sanctions on everyone. Everyone must obey me ā I am the greatest president! Putin called me a genius.ā
8 months ago
0
0
0
Twitter is down. The U.S. government is paralyzed.
8 months ago
0
1
0
I now understand Europeās concern about Russia. In November 1999, President Yeltsin asked President Clinton to give him Europe.
clinton.presidentiallibraries.us/items/show/5...
8 months ago
0
0
0
reposted by
Khazbi Budunov
Adam Schwarz
8 months ago
Canadian Prime Ministerādesignate Mark Carney: "The Americans want our resources, our water, our land, our country. If they succeeded, they would destroy our way of life. In America, healthcare is big business. In Canada, it is a right."
loading . . .
61
3381
978
Many are puzzled: why is Trump abandoning Ukraine? For the same reason he refuses to support Europe. His policy is extremely simple: minimize expenses (on Ukraine, Europe, the American working class, etc.) and make everyone pay America (through tariffs). This is just basic business logic.
8 months ago
0
1
0
Itās just that a recession is now being called an economic detox.
8 months ago
0
0
0
reposted by
Khazbi Budunov
Brian Romanchuk
8 months ago
President Deals is back.
open.substack.com/pub/bondecon...
loading . . .
Sigh, Chaos Continues (7)
Since my last article, President Deals partially caved in Canadian/Mexican tariffs, but has just announced new tariffs on Canadian products (dairy and lumber, from what I could tell).
https://open.substack.com/pub/bondeconomics/p/sigh-chaos-continues-7?r=nmvfm&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
0
2
1
reposted by
Khazbi Budunov
Adam Tooze
9 months ago
Todayās Chartbook explores zero-sum thinking in U.S. politicsā the belief that gains for one individual or group come at the cost of others. The zero-sum mindset greatly impacts issues like government redistribution, affirmative action, immigration policies, and more:
tinyurl.com/bdesb9ye
.
1
28
5
Does Trump even know that his tweets addressing Putin donāt reach their intended recipient because Twitter is blocked in Russia?
10 months ago
0
0
0
š
10 months ago
0
0
0
The irony of history: Trudeau Sr. achieved full independence for Canada from the metropole, while Trudeau Jr. has effectively turned the country into the 51st state of the United States.
10 months ago
0
0
0
Just a classic Christmas family photo: the perfect mix of holiday cheer and suspense.
11 months ago
0
0
0
So, Trump wasnāt enough? Now weāre moving on to promoting far-right extremists in Europe too, with Musk backing Germanyās AfD.
11 months ago
0
0
0
In Post-Keynesian methodology, economics isnāt about abstract equations but an evolving system within a historical context. Institutions, uncertainty, and real dynamics matter more than "perfect markets".
11 months ago
0
3
0
Milgram Experiment (1961): Ordinary people delivered lethal electric shocks (fake ones) to others just because a man in a lab coat told them to. 65% went all the way. Conclusion: obedience to authority often outweighs conscience. Scary to think what weāre capable of.
11 months ago
0
1
0
Load more
feeds!
log in